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• Youtube - https://www.youtube.com/@Goldeneraguitars
Seriously: If you value it, take/fetch it yourself
There was something I read years ago that's stuck with me - slightly mangled, it says that a company is an abstraction layer that enables each person to do the thing they're good at (and, slightly idealistically, enjoys doing).
So for me the upside of working for someone else is that I can get on with designing, "selling" (in the softest sense) and occasionally commissioning stuff. I don't have to even think about accounts, leasing a building, refilling the photocopier, paying the bills and so on. There are even people to answer the phone so that the calls that get through to me are actually worth taking.
That said I do completely understand the urge to do as much as possible oneself just so that you know it's done right.
So it's 7 days a week right now but i can't see myself working for anyone, i couldn't care less about a crap job and I'm not in it for the money either
The satisfaction i get from making something that someone likes playing is so inspiring and keeps me going, i was going to stop a couple of years ago but a pro player friend persuaded me to keep going and I'm glad i did now
(formerly customkits)
To be successful as a small business you need to be reasonably good at all of the jobs on the list, and I think that's why I'm still here after 10 years, when other amp builders have come and gone.
The other requirement, for me at least, is not to want to make much money! In that regard I'm lucky in that, not being the main breadwinner, I find it easier, now, to achieve a work/life balance. That didn't happen overnight though. I feel sorry for those who have to work long hours to pay bills. It becomes a very close call at that point whether you'd be happier in a 'proper' job.
As I write this I'm covering a mates shop and it's a complete ball ache as I have to be here at 9 in the morning and stay here till 5:30 !! .... I generally like to start to start at the crack of 10:30 \ 11 ish and knock work on the head about 3 in the summer
Low overheads is the key to happy self employment. When I was a partner in Clones UK we had to make something like £500 profit a day just to pay the bills. You can be a busy fool in business, better to find the optimum sweet spot of good profit and zero hassle.
It is why I stopped building guitars (some would say I never properly started)- the margins were not there to justify it when I have another business that requires a much small amount of time in order to make a living.
Studio: https://www.voltperoctave.com
Music: https://www.euclideancircuits.com
Me: https://www.jamesrichmond.com
A plus point in our trade, for many of us 'self employed guys' is that our job is an extension of our hobby - We need no qualification to actually be in business and to carry out the functions that we perform - But we need many other attributes that have been mentioned above in order to survive and grow with a reputation intact
Working for yourself is not for everyone - Granted there are a few like Sugar and Dyson who make millions, but many have a 'life style' business - And unfortunately many don't survive beyond 2 years
Working with your partner is even harder.
Owning two of your pedals and seeing the recognition and plaudits you are getting in such a overcrowded market place, you're doing everything the right way. Now the big question @ThorpyFX when are you making a delay?
Ultimately, delegation in a company costs a lot of money, so at the moment I'm keeping overheads low and doing as much as i can myself. I am not moaning, its a trade off and cash flow is king.
Tate FX
www.TateFX.co.uk
Instagram
Its also easy to get annoyed from an accountants perspective when people bring records in late or don’t send in enough information but I have huge respect for anyone running their own business for all the reasons above. It’s really not an easy life.
I just hope that everyone on here gets enough enjoyment from the core parts of their businesses to keep going. We have a community of some really talented people that it would be a shame to lose.
I also worry about HMRC and the lauded ‘making tax digital’ plans that are starting to phase in soon. I just hope it doesn’t add too much more of a burden on to small businesses. These things are never as simple as made out!